A laser light source, comprising an excitation light source, a fluorescent wheel (23), a color-filtering wheel (26), and a control unit. The fluorescent wheel (23) comprises a reflection part (32) and a transmission part (31) that transmits the excitation light source. Adhered to the surface of the reflection part (32) are a fluorescent body part that emits yellow light (321) when excited by the excitation light source and a fluorescent body part that emits green light (322) when excited by the excitation light source. The color-filtering wheel (26) comprises a transparent part (41), a red color-filtering part (42), and a green color-filtering part (43). The control unit controls the fluorescent wheel (23) and the color-filtering wheel (26) to rotate synchronously, such that the transparent part (41) is aligned with the transmission part (31) of the fluorescent wheel (23) and a part of the fluorescent body part that emits yellow light (321), that the red color-filtering part (42) is aligned with the remaining part of the fluorescent body part that emits yellow light (321), and that the green color-filtering part (43) is aligned with the fluorescent body part that emits green light (322). Also disclosed is a projection and display device comprising the laser light source.